An area that causes difficulty in streamlining lending processes is the management of paperwork passed between parties then transformed and analysed. This type of complex process automation requires a combination of technologies to work in tandem.
A clear example in SME lending markets is the manual collation and analysis of customer bank statements. Using AMP’s proprietary CAIROS digitisation and analysis tools, there is significant potential for time savings and service quality improvement – a recent case study involving Standard Chartered showed a turnaround time reduction “from days to minutes”.
Standard Chartered have recognised this will drive an enhanced customer experience, higher conversion rates, improved credit quality and greater profitability.
CAIROS is sector-agnostic and can be used in a range of lending and operational process areas. Download the case study below.